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Eight-month export turnover hits US$43.3 billion
Vietnam’s export turnover in the first eight months of this year reached US$43.3 billion, a year-on-year increase of 39 percent, the General Statistics Office (GSO) reported.
Nine products in the “one-billion dollar” club have fulfilled their targets, according to the GSO.
Crude oil continued to retain its top place, fetching US$7.88 billion between January and August. It was followed by garments and textiles with a total value of US$6 billion, up 20 percent from the same period a year ago.
Other industrial products also enjoyed high export growth rates, with footwear hitting US$3.16 billion; electronic appliances and computers, US$1.66 billion; wood furniture, US$1.8 billion; and rubber, US$1.04 billion.
Farm produce made a breakthrough in export turnover during the reviewed period. Seafood saw a three-year record rise of 20.8 percent to reach nearly US$2.9 billion, while rice brought home US$2.24 billion and coffee, US$1.54 billion, year-on-year increases of 96 percent and 9 percent, respectively.
Despite positive export growth, trade deficit remains a burden on the country’s trade balance as it climbed up to US$16 billion, equal to 37 percent of the total export turnover.
The GSO reported that Vietnam’s eight-month import value was estimated at US$59.3 billion, up 54 percent from the same period last year. Of the amount, the domestic sector imported more than US$40 billion worth of products and the foreign-invested sector, US$19.2 billion, showing year-on-year increase of 65.4 percent and 41.3 percent, respectively.
The Ministry of Industry and Trade said it will take comprehensive measures in the remaining months of the year to curb trade deficit, while stabilising the domestic market and ensuring the supply-demand balance of essential goods.
Apart from boosting exports, the ministry will also try to improve pricing forecasts in the context of the world market’s strong fluctuations.
VNN
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